Alpha Omega Wealth Management LLC Acquires 1,217 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Alpha Omega Wealth Management LLC increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.9% during the fourth quarter, Holdings Channel reports. The fund owned 21,837 shares of the credit services provider’s stock after acquiring an additional 1,217 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in PayPal were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp grew its position in shares of PayPal by 2.7% in the first quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock valued at $3,449,434,000 after purchasing an additional 1,202,956 shares during the last quarter. Geode Capital Management LLC boosted its stake in PayPal by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after purchasing an additional 235,651 shares during the period. Morgan Stanley grew its holdings in PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after buying an additional 873,181 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after buying an additional 17,120,572 shares during the period. Finally, Norges Bank bought a new position in PayPal during the 4th quarter worth $1,022,333,000. Institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 0.1 %

Shares of NASDAQ:PYPL traded down $0.06 during midday trading on Wednesday, hitting $63.37. 4,808,932 shares of the stock were exchanged, compared to its average volume of 16,676,928. The business’s 50-day moving average price is $62.15 and its 200 day moving average price is $59.86. The stock has a market capitalization of $66.71 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.44 and a beta of 1.45. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $77.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPL) last posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. Analysts predict that PayPal Holdings, Inc. will post 3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PYPL. JPMorgan Chase & Co. reduced their target price on shares of PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of PayPal in a report on Thursday, February 8th. Mizuho lowered their target price on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. UBS Group boosted their price target on PayPal from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Stephens reissued an “equal weight” rating and set a $70.00 price target on shares of PayPal in a research report on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $70.47.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.